Most models of monetary policy specify a single rule (frequently a Taylor rule) for setting a policy interest rate based on monetary aggregates. Here I consider an economy where the government has two channels for injecting or withdrawing money from the economy: a policy of monetary transfers to...

We use monthly panel data information on Argentine banks to try to explain the variation in deposits during the 2001 crisis. The variables used are related to the solvency condition of the bank, whether it is public or private, interest rates for each bank and macroeconomic variables referred to...

Most models of monetary policy specify a single rule (frequently a Taylor rule) for setting a policy interest rate based on monetary aggregates. Here I consider an economy where the government has two channels for injecting or withdrawing money from the economy: a policy of monetary transfers to...

This paper studies the nature of monetary policy in a cash-in-advance model with indivisible labor and with financial intermediaries that provide loans for working capital. Monetary policy occurs through money injections either directly to families or to financial intermediaries. Injections to...

We use monthly panel data information on Argentine banks to try to explain the variation in deposits during the 2001 crisis. The variables used are related to the solvency condition of the bank, whether it is public or private, interest rates for each bank and macroeconomic variables referred to...

The BCRA publishes monthly an expectations survey (REM) that summaries the forecasts and projections of a group of economic analysts and consultants. The BCRA publishes only the mean, the median, and the standard deviation of the sample received. The logic for using these statistics is that all...